After reporting first-quarter profits triple those of a year earlier, it was difficult for General Motors CEO Dan Akerson this morning to resist the temptation to crow a bit. “I won’t say the fruit is hanging low, but it’s within a fair reach for us,” he said during a conference call for analysts.

GM’s results were quite a bunch of coconuts: $3.2 billion in net profits, comprising its fifth consecutive profitable quarter, which reflected proceeds of $1.9 billion from the sale of GM’s ownership in Delphi, the parts maker, and the Ally Financial Credit Company.

But even on an apples-to-apples basis, GM was humming: Operating profits of $2 billion exceeded analysts’ already-high expectations.

That’s largely because GM’s sales in the United States are burgeoning – up more than 26% in April – on the strength of the growing appeal of its most fuel-efficient models, including the new Chevrolet Cruze compact and the Chevrolet Equinox crossover-utility vehicle.Continue reading...